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20 July - NH - Morning Newsletter (with survey at top and bottom)
4 Best Stocks to Watch Right Now
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Good Morning!
The session on July 19, US stock markets ended in the green zone. The S&P 500 rose 2.76% to 3936, the Nasdaq added 3.11% and the Dow Jones rose 2.43%. All 11 sectors included in the broad market index closed in positive territory. The growth leaders were telecoms (+3.64%), industrial (+3.58%) and energy (+3.16%) companies. The enterprises of the communal sector (+0.68%) moved up more slowly than others.Company news
Steel Dynamics Inc. (STLD: -1.61%) plans to add new capacity to produce flat products from recycled aluminum with a capital investment of $2.2 billion.
A Delaware court allowed Twitter (TWTR: +2.81%) to speed up the lawsuit against Elon Musk.
Jefferies Financial Group Inc (JEF: +4.32%) plans to spin off Vitesse Energy to focus on its core banking business.
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Today Top Movers
Greenlane Holdings Inc. (GNLN) stock soared 17.82% to $0.2288 in pre-market trading after announcing that it has sold its stake in VIBES Holdings LLC for $5.3 million in cash.
Netflix Inc. (NASDAQ: NFLX) shares are trading up 6.71% at $215.15 at the time of writing after releasing Q2 2022 financial results.
Infobird Co. Ltd (IFBD) grew over 13.44% at $0.5105 in pre-market trading today after signing a channel partner agreement with Harbor Private Limited.
Aehr Test Systems (AEHR), a Semiconductor Equipment & Materials company, rose about 4.35% at $9.6 in pre-market trading Wednesday. The company received $12.8M in follow-on orders for multiple FOX-XP™ Systems and WaferPak™ contractors to support production test and Burn-in of Silicon Carbide Power devices for electric vehicles
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Top Upgrades & Downgrades
Stifel turned bullish on Netflix Inc. (NFLX), upgrading the stock to "Buy" and assigning a $250 price target, representing potential upside of 23.99% from Tuesday's close.
FMC Corporation (FMC) has won the favor of Keybanc's equity research team. The firm upgraded the shares from Sector Weight to Overweight and moved their price target to $122, suggesting 17.69% additional upside for the stock.
Alibaba Group Holding Limited (BABA) received an upgrade from analysts at Bernstein, who also set their one-year price target on the stock to $130. They changed their rating on BABA to Outperform from Market Perform in a recently issued research note.
Earlier Wednesday Evercore ISI Group reduced its rating on Ally Financial Inc. (ALLY) stock to In-Line from Outperform and assigned the price target to $36.00.
Credit Suisse analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Sealed Air Corporation (SEE) has been changed to Neutral from Outperform and the new price target is set at $64.00.
Analysts at JP Morgan downgraded Eagle Materials Inc. (EXP)'s stock to Neutral from Overweight Wednesday.
Leaked tax return reveals secret to pocketing $460,164...
Official tax return reveals how one trader nabbed annual gains of 228%, 309% and 339%. His tax return was released online, exposing this simple trading technique used to pocket nearly half a million in profits.
Latest Insider Activity
Snap Inc. (SNAP) Chief Financial Officer Andersen Derek announced the sale of shares taking place on Jul 18 at $14.02 for some 8,316 shares. The total came to more than $0.12 million.
Neuronetics Inc. (STIM) President and CEO Sullivan Keith J sold on Jul 18 a total 63,466 shares at $3.72 on average. The insider’s sale generated proceeds of almost $236,094.
Keurig Dr Pepper Inc. (KDP) Chief Supply Chain Officer Milikin Maurice Anthony declared the purchase of shares taking place on Jul 18 at $36.36 for some 12,979 shares. The transaction amount was around $0.47 million.
Fastenal Company (FAST) CAO/CONTROLLER/TREASURER Lisowski Sheryl Ann bought on Jul 14 a total 1,058 shares at $46.63 on average. The purchase cost the insider an estimated $49,330.
Forbes mag says this strategy "like finding money in the street"
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Important Earnings
Top US earnings releases scheduled for today include Baker Hughes Company (NASDAQ: BKR). It will announce its Jun 2022 financial results. The company is expected to report earnings of $0.22 per share from revenues of $5.34B in the three-month period.
Analysts expect Abbott Laboratories (NYSE:ABT) to report a net income (adjusted) of $1.12 per share, when the company releases its quarterly results shortly. Revenue for the fiscal quarter ended Jun 2022 is predicted to come in at $10.29B.
Wipro Limited (WIT), due to announce earnings before the market opens today, is expected to report earnings of $0.08 per share from revenues of $2.8B recently concluded three-month period.
That's it for today. Thanks for reading. Good luck out there!Best Regards,Stocks Telegraph Team
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